The stock sector that was 2022's biggest loser is the top gainer in 2023 as market leadership gets shaken up

• The S&P 500 communications services sector has started 2023 as the top-performing group on the broad index. 
• The sector that's home to Meta, Netflix and Match has picked up 12% after sliding 40% last year. 
• The rotation in market leadership has extended to other hard-hit groups including consumer discretionary. 

The communications services group has emerged as the S&P 500's best-performing sector in early 2023, highlighting the shift in market leadership after stocks sank into a bear market last year.